How Blockchain Will Impact and Benefit Education in the next Five Years

The majority of people today are familiar with blockchains, and they know that it is the thing that make a Bitcoin operate. An institution enrolling a transfer student may quickly and easily verify their academic history and the courses they have taken using Blockchain. Data entered is stored in chronologically linked blocks, which makes it relatively simple to trace the data's origins and confirm its legitimacy.

The sharing of records with an employer falls under the same notion. Till now, it should be obvious that cryptocurrencies like Bitcoin are most frequently associated with blockchain technology. Education is one sector where Blockchain is only now starting to gain traction. So there is a great impact of Blockchain on the education sector.

Short History of Blockchain in the Education Sector

Only 2% of higher education institutions were adopting Blockchain, according to a 2019 poll by the research firm Gartner, while another 18% expected to do so within the next two years. Blockchain is now largely used by universities that have adopted it to store and share academic information and credentials. Despite the intriguing potential, data security, scalability, and cost are all problems that prevent Blockchain from being widely used in the education industry.

How Blockchain Works

Blockchain does have a simple working procedure where each pupil is given a blockchain account at the time of first enrollment in the educational system, which occurs at the kindergarten level. The account would include a complete, in-depth record of the academic activity of a student. Exams and papers themselves may be stored, so this isn't simply about final grades. Detailed information regarding attendance, courses are taken, and even the outcomes of particular tests or papers can be found in a digital transcript.

Other schools or possible employers, for instance, who have access to the student's transcript, can examine how they did on particular tests. Teachers could also construct exam questions with the correct answers and scoring criteria in the Blockchain because it supports smart contracts. The Blockchain would then handle grading after students took the exam digitally using desktop computers or tablets.

This technology has significance for primary and secondary education as well as for institutions of higher learning. With the help of Blockchain, teachers would have more time for other academic or cultural pursuits if they weren't required to grade tests.

Positive Impacts of Blockchain on the Education Sector

The benefit of employing blockchain technology in education is the security it offers to the data and its ability to keep the data safe even if one particular node is compromised. Some sectors in the educational sector where Blockchain could change how things work include:

- Records Of Students

Even if student records are digital, using Blockchain to update grades, issue transcripts, and provide students with safe access to their records could help reduce the labor-intensive nature of this activity, which is one of the most time-consuming tasks at any institution or university.

- Courses And Lessons

Smart contracts are also supported by many blockchains. Therefore, lectures and courses can be encoded into the Blockchain so that they can be automatically completed when certain conditions are satisfied. This arrangement might be used for entire courses. A teacher might assign duties to the students, for instance. The Blockchain's smart contracts might be used to automatically verify that each task was completed. Teachers might be paid in cryptocurrency tokens after all tasks are finished, and pupils might be given credits.

- Issuance Of Diplomas And Degrees

Instead of using traditional degrees or diplomas, the college or university can save student data on a blockchain. As a result, hiring organizations won't have to deal with employers for documents or the document verification procedure itself.

- Badges

A standard resume includes a lot of additional information that could be useful to employers in addition to degrees. We're talking about specialized knowledge, foreign language proficiency, or other skills that aren't always connected to a person's line of work. I have a master's degree in primary care diabetology and am a medical doctor. But that doesn't inform people that I can set up computer networks, speak four languages with varying degrees of competence, understand cryptocurrency, or am a skilled cook.

How Blockchain Will Help Over The Next Five Years

By automating record keeping and sharing, enhancing data security and trust, speeding the recruiting process, and granting students lifetime ownership of their academic records, technology has the ability to fundamentally shift and change the education sector. Thanks to Blockchain, cryptocurrencies are causing a significant financial shift. Blockchain adoption in education improves resource usage and the effectiveness of the school ecosystem.

In the process, issues including cost, cost-effectiveness, scalability, and compatibility with legacy systems will need to be addressed. Additionally, schools might post social and cultural calendars on the Blockchain. Being able to bring in a more safe, more open, cooperative, innovative, and future-ready educational system that can accommodate rising enrollment makes it well worth the money.

It goes without saying that a huge quantity of storage space would be needed to store all of these documents and films. A decentralized file-storage system similar to Filecoin should therefore be incorporated into the Blockchain. Then anyone, wherever in the world, may rent out any free disc space for hosting files in return for NYETs.

By setting up computers as nodes, interested parties can also mine NYETs, which entails continuously ensuring the accuracy of the Blockchain and all the data it stores.

The Use Of Blockchain In Reducing The Cost Of Education

Blockchain has the potential to transform the way that education is delivered. It opens up new, more accessible learning opportunities for educational institutions and students. This procedure can be streamlined using Blockchain, which lowers administrative costs and can consequently result in reduced tuition prices. Pay-as-you-go courses and other open learning scenarios have already made use of the technology, which relies on the implementation of smart contracts and accepts cryptocurrencies as payment.

Blockchain technology has the potential to support lifelong learning by making open educational resources widely accessible.